When, Not If: Bitcoin in Israel

Hi everyone, this is Gabe with Coinapult, hope everyone is having a great Friday and getting ready for an exciting Halloween ☺ Have you seen Coinapult’s pumpkins for this year?

I recently had the chance to attend the Inside bitcoins conference in Tel Aviv. I always appreciate the opportunity to catch up with old friends and colleagues in the Bitcoin space, as well as meeting the newcomers.

Tel Aviv was a particularly interesting place to hold a Bitcoin conference. The city’s cultural and business environments are very technology-oriented. Wifi is nearly a public utility, all the cab and Uber drivers knew what Bitcoin was, and many of the brightest technologists are at the local universities or start-up companies.

Vitalik Buterin is building the future Ethereum platform, and I… am tweeting about it.

There were two things that struck me as particularly interesting about the Tel Aviv Inside Bitcoins conference. First, there was a heavy emphasis on Bitcoin 2.0 technology. Presentations from Colored Coins, Ethereum, Mastercoin, Lazooz, and others played a significant role in the tone of the conference. I found this to be very interesting, especially as many throughout the globe are still trying to understand and utilize Bitcoin 1.0.

To me, this emphasized that the Israeli tech community has very clearly identified blockchain technology as a crucial tool for future development. This recognition that blockchains can have major impacts outside of just currencies and payment networks is very exciting. It seems similar to when internet users and companies started experimenting with use cases outside of just email.

“Bitcoin Will Be Systemically Valuable…” Dr. Edward Offenbacher Head of Monetary Research, Bank of Israel

Second, which I found more surprising, was the fact that Bitcoin was seen as a clear and obvious inevitability, by all parties. Now for ordinary Bitcoiners, this doesn’t sound like a shocking statement, considering our natural optimism. But it wasn’t just Bitcoiners sharing this sentiment. There were speakers from Israeli Parliament as well as the Central Bank of Israel. I remember my jaw hitting the floor when I heard a Central Banker make reference to when Bitcoin becomes systematically valuable, just like the dollar or euro. Not if, but when.

If Central Bankers and Politicians in Israel are this forward-thinking, Bitcoin and blockchain-technologies may have found a terrific place to continue innovating and building the decentralized future.

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